The site, straddling the town and neighboring Lopatcong Township off Route 22, stood mostly idle for many of the years since its closure, a stark reminder that the community no longer had a major employer that could offer a good-paying job to hard-working residents.

For officials in Phillipsburg and Lopatcong, there's now good reason to move past that mindset. A ceremonial groundbreaking was held Wednesday for Bridge Point 78, a 4-million-square-foot logistics park that is expected to bring thousands of jobs through construction and logistics operations at its buildings.

Bridge Development Partners LLC is the developer behind the plan for the 381-acre site, and the company said it has a track record of success in projects of this magnitude, citing more than 29 million square feet of industrial buildings/projects valued at more than $3.8 billion since its inception in 2000.

"We are at the start of a rebirth of the economic vitality of our towns," the mayor said. "Coming are construction jobs for our residents. Coming are permanent jobs in warehousing and transportation of goods. Coming is remediation of environmental problems on the site. Coming are ratables that make our town more affordable for residents."

The first phase of the project will encompass the construction of four buildings on a speculative basis. CBRE, a commercial real estate services and investment team, has been brought on to market the property, the developer says in a news release.

If the warehousing and logistics boom in recent years in the Lehigh Valley is any indication, leasing the properties won't be a tough sell. Just on the other side of the Delaware River in the Lehigh Valley, the warehousing and logistics sectors are thriving. FedEx is building a major hub in Allen Township and Amazon already operates two fulfillment centers there. Plans for UPS to build a mega warehouse in Palmer Township were revealed in July.

Jeff Milanaik, a partner with Bridge Development Partners, noted the Bridge Point 78 project already has momentum. "The necessary approvals have been secured and old buildings have been razed," he said.

For Milanaik, the site's history as a manufacturing hub hasn't been forgotten as the development has proceeded.

"For the first time since Ingersoll Rand vacated this massive site decades ago, it is officially on its way to once again becoming a beehive of industry for the region," he said.